Source: International Thunderbird Gaming Corporation

 Thunderbird Re-Opens Nuevo Laredo, Mexico. 
Settlement with California Tribe.
Update on Nicaragua.

San Diego, CA
March 16th, 2001

    International Thunderbird Gaming Corporation (TSE - INB) is pleased to announce that it has re-opened the skill machine facility in Nuevo Laredo initially opened February 9, 2001.  Thunderbird and the Mexican Ministry of Interior ("Secretaria de Gobernacion") entered into a voluntary dismissal of the Nuevo Laredo Amparo proceeding paving the way for re-opening the operation.  Thunderbird has initiated a joint dialogue with Gobernacion on issues relating to skill games.  Thunderbird continues to implement its expansion plans for Mexico.  The first skill game operation in Matamoros
continues to perform well, averaging $78 per machine per day in net win during February 2001.

California Tribe Settlement:
    The Company is pleased to announce that it has completed the negotiation and settlement of a lawsuit against a California Tribe.  The terms of the settlement include a payment by the tribe of $500,000 and delivery of 404 gaming machines to Thunderbird.  The Company's recoverability of the settlement proceeds will be recorded against "California
Gaming Amounts Recoverable".  The Company continues to pursue the collection of additional amounts from other California Tribes.

    The Company's Fiesta Casino in the Hotel Intercontinental Managua in Nicaragua, which opened on February 24, 2001 has 37 machines in operation and the company intends to install an additional 16 machines.  Thunderbird is pleased with the launch of Fiesta Casino-Managua. 

    International Thunderbird Gaming Corporation is an owner and manager of international gaming facilities. Additional information about the Company is available on its World Wide Web site at

On behalf of the Board of Directors 
Jack R. Mitchell 
President and CEO 

Cautionary Notice: This release contains certain forward-looking statements within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential revenue and future plans and objectives of the Company are forward-looking statements that involve risk and uncertainties. There can be no assurances that such statements will prove to be accurate and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's forward-looking statements include competitive pressures, unfavorable changes in regulatory structures, and general risks associated with business, all of which are disclosed under the heading "Risk Factors" and elsewhere in the Company's documents filed from time-to-time with the TSE and other regulatory authorities.

Alex Winch, 
Investor Relations 
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